Press release
Automotive Terminal Industry Outlook 2025-2029: Market Set to Cross $30.15 Billion Milestone
Automotive Terminal Market
How Large Will the Automotive Terminal Market Size By 2025?
The progression of the market size for automotive terminals has been robust in the few past years. The forecast predicts a rise from $18.78 billion in 2024 to $20.35 billion in 2025, sustaining an 8.4% compound annual growth rate (CAGR). This past period's growth has been primarily due to factors such as the expansion of the automotive industry, strict emission rules, an increase in consumer volume for electronics, and economic advancement.
How Big Is the Automotive Terminal Market Size Expected to Grow by 2029?
In the coming years, the automotive terminal market is anticipated to experience a swift expansion. The market size is projected to reach $30.15 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.3%. The surge expected in the forecast period can be credited to factors such as increased car production, the adoption of electric vehicles, rising global urbanization, higher per capita disposable income, and government backing. The forecast period will also witness significant trends such as the digital transformation of manufacturing, the implementation of 5g technology, the use of advanced materials, improved safety features, and collaboration across various industries.
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Which Key Market Drivers Powering Automotive Terminal Market Expansion and Growth?
The anticipated rise in automobile manufacturing volumes is poised to fuel the expansion of the automotive terminal market. The swift increase in individual disposable incomes in both emerging and mature markets, coupled with an escalating requirement for personal modes of transport for daily commuting, are propelling the surging demand for passenger and commercial vehicles. This surge in demand for both passenger and commercial vehicles is predicted to amplify the usage of automotive terminals, given their essential role in vehicle production. To illustrate, data from the Belgium-based trade organization, the European Automobile Manufacturers Association, indicated approximately 85.4 million motor vehicles were produced worldwide in 2022, marking a 5.7% rise from the previous year.
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What Trends Will Shape the Automotive Terminal Market Through 2029 and Beyond?
The rise of technological innovation has become a prominent trend in the automotive terminal market. To satisfy industry needs and fortify their global market standing, companies in this sector are concentrating on creating advanced products. For example, in a recent March 2022 report by Mouser Electronics, an American electronics distributor, it was noted that JAE Electronics has designed miniature MX79A series high-speed connectors to facilitate data transfer. These MX79A high-speed connectors enhance the communication between in-vehicle information and communication technology units like the camera ECU.
What Are the Emerging Segments in the Automotive Terminal Market?
The automotive terminal market covered in this report is segmented -
1) By Current Rating: Below 40 Ampere, 41-100 Ampere, Above 100 Ampere
2) By Vehicle Type: Passenger, Commercial
3) By Application: Body Control and Interiors, Safety and Security, Cooling, Engine and Emission Control, Infotainment, Lighting System, Battery System
Subsegments:
1) By Below 40 Ampere: Low-Current Terminals, Miniature Terminals, Standard Terminals
2) By 41-100 Ampere: Medium-Current Terminals, High-Temperature Terminals, Multi-Pole Terminals
3) By Above 100 Ampere: Heavy-Duty Terminals, High-Current Terminals, Specialty Terminals for High-Power Applications
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Who Are the Global Leaders in the Automotive Terminal Market?
Major companies operating in the automotive terminal market include Delphi plc, TE Connectivity Ltd., Pohjolan Kaapeli Oy, Furukawa Electric Co. Ltd., Canadian Automobile Association, Tyco Electronics Ltd., Lear Corp., Molex LLC, Viney Corporation, Grote industries Inc., Keats Groups Ltd., Sumitomo Electric Industries Ltd., Yazaki Corporation, Amphenol Corporation, Aptiv PLC, JST Mfg. Co. Ltd., Kyocera Corporation, Leoni AG, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Samtec Inc., Schlemmer Group, Sumitomo Wiring Systems Ltd., 3M Company, Amphenol Aerospace Corp., Amphenol Industrial Operations Corp., Anderson Power Products, Deutsche Telekom, Esterline Technologies Corp., Glenair Inc., Harwin plc
Which are the Top Profitable Regional Markets for the Automotive Terminal Industry?
Asia-Pacific was the largest region in the automotive terminal market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive terminal market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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